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Budget And Banking

TermDefinition
ATM electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller.
Account Balance A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world
Budget An estimate of income and expenditure for a set period of time
Checking Account An account at a bank against which checks can be drawn by the account depositor An account at a bank against which checks can be drawn by the account depositor
Cleared Check Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction
Credit Union Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners.
Debit Card An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services
Deposit The action of deposing someone, esp. a monarch.
Direct Deposit Electronic funds that are deposited directly into your bank account rather than through a paper check
Endorse Declare one's public approval or support of.
Expense The cost required for something; the money spent on something
FDIC Federal Deposit Insurance Corporation. A federal agency that insures deposits in member banks and thrifts up to $100000.
Fees A payment made for professional advice or services A payment made for professional advice or services.
Financial Literacy Financial literacy is the ability to understand finance
Financial Security A security is a fungible, negotiable instrument representing financial value
Fixed Expense Costs of owning and operating a property that are not discretionary and, except for occasional increases, do not change
Income Money received, esp. on a regular basis, for work or through investments Money received, esp. on a regular basis, for work or through investments
Intrest The state of wanting to know or learn about something or someone: "many people lose interest in history".
Loan Overdraft Loan arrangement under which a bank extends credit up to a maximum amount
Memo A written message, esp. in business; a memorandum.
Needs Cannot avoid or help doing something: "they must needs depart".
Non-Sufficient Funds Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a check) cannot be honored
Online Banking Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail
Payee A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
Payer a person who pays money for something
Reconcile Cause to coexist in harmony; make or show to be compatible
Savings An economy of or reduction in money, time, or another resource.
Variable Expenses Variable costs are expenses that change in proportion to the activity of a business
Wants Have a desire to possess or do (something); wish for.
Withdrawal An act of taking money out of an account
Created by: Jpeay